Name: Vishal Kumar Tripathi (2007 – 2009)
Title: Customer Perception in Retail Sector (Shoppers Stop)
Summary
The Indian retail industry is now beginning to evolve in the line with the transformation that has swept other large economies. The liberalization of the consumer goods industry initiated in the mid-80’s and accelerated through the 90’s has begun to impact the structure and conduct of the retail industry.
The concept retail which includes the shopkeeper to customer interaction, has taken many forms and dimensions, from the traditional retail outlet and street local market shops to upscale multi brand outlets, especially stores or departmental stores.
The objective being to assess the various parameters that influences a buyer to visit or shop at departmental store thereby contributing to its turnover (in terms of sales and profits) hence leading to its overall success.
The extensive research brought me to conclude that departmental stores are soon emerging on the top priority lists, amongst the shopping spree in Delhi and NCR, as they seem to derive immense pleasure of convenience and exposure to variety under one roof, in their extremely busy lives, when they don’t have time for things.
Though some of the customers perceive departmental stores to be expensive and only high income category’s cup of tea, the stores make constant efforts to induce them to at least visit the store at once during the sale period, or discount offers.
Hence this document entails me through these aspects in great detail, helping me to understand the concept of retail marketing through departmental stores in Delhi.
Findings
1. Most of the stores are targeting almost all the segments of the society with their USP being “Price benefit”
2. All the stores are in Prime Location.
3. Every Big Bazaar outlet have motivated and trained sales force.
4. Large variety of products are available ranging from clothes, food items, electronic
goods etc.
5. Staff is provided constant training for various pecularities of customer behavior.
6. Some of them offer discount sales and also send greetings to its loyal customers.
7. Not much difference in the Layout of the floor designs in the various branches. They try to maintain a similarity to maintain comfort levels of customers.
8. These stores maintain Word of Mouth.
9. Customers are satisfied with the provided services.
10. International shopping experiences can be achieved from these stores.
Recommendations and Suggestions
1) Convert your customers into publicity agents. Develop an incentive for them to tell associates and friends about the value of your products or services. An endorsement from them is more effective than any amount of advertising - and it is
much cheaper.
2) Surprise your customers with unexpected value. If you sell products, include an "unadvertised bonus" with every order. If you sell services, get into the habit of doing something extra for every customer or client without charging for it.
3) Reward them each time they refer someone who becomes a customer. Your reward can be as simple as a credit toward their next order from you.
4) The management of Big Bazaar can improve their understanding of the role and capabilities of advertising to improve customer relation and enhance loyalty. This understanding should in turn results in a more effective and more efficient advertising campaign.
Title: Customer Perception in Retail Sector (Shoppers Stop)
Summary
The Indian retail industry is now beginning to evolve in the line with the transformation that has swept other large economies. The liberalization of the consumer goods industry initiated in the mid-80’s and accelerated through the 90’s has begun to impact the structure and conduct of the retail industry.
The concept retail which includes the shopkeeper to customer interaction, has taken many forms and dimensions, from the traditional retail outlet and street local market shops to upscale multi brand outlets, especially stores or departmental stores.
The objective being to assess the various parameters that influences a buyer to visit or shop at departmental store thereby contributing to its turnover (in terms of sales and profits) hence leading to its overall success.
The extensive research brought me to conclude that departmental stores are soon emerging on the top priority lists, amongst the shopping spree in Delhi and NCR, as they seem to derive immense pleasure of convenience and exposure to variety under one roof, in their extremely busy lives, when they don’t have time for things.
Though some of the customers perceive departmental stores to be expensive and only high income category’s cup of tea, the stores make constant efforts to induce them to at least visit the store at once during the sale period, or discount offers.
Hence this document entails me through these aspects in great detail, helping me to understand the concept of retail marketing through departmental stores in Delhi.
Findings
1. Most of the stores are targeting almost all the segments of the society with their USP being “Price benefit”
2. All the stores are in Prime Location.
3. Every Big Bazaar outlet have motivated and trained sales force.
4. Large variety of products are available ranging from clothes, food items, electronic
goods etc.
5. Staff is provided constant training for various pecularities of customer behavior.
6. Some of them offer discount sales and also send greetings to its loyal customers.
7. Not much difference in the Layout of the floor designs in the various branches. They try to maintain a similarity to maintain comfort levels of customers.
8. These stores maintain Word of Mouth.
9. Customers are satisfied with the provided services.
10. International shopping experiences can be achieved from these stores.
Recommendations and Suggestions
1) Convert your customers into publicity agents. Develop an incentive for them to tell associates and friends about the value of your products or services. An endorsement from them is more effective than any amount of advertising - and it is
much cheaper.
2) Surprise your customers with unexpected value. If you sell products, include an "unadvertised bonus" with every order. If you sell services, get into the habit of doing something extra for every customer or client without charging for it.
3) Reward them each time they refer someone who becomes a customer. Your reward can be as simple as a credit toward their next order from you.
4) The management of Big Bazaar can improve their understanding of the role and capabilities of advertising to improve customer relation and enhance loyalty. This understanding should in turn results in a more effective and more efficient advertising campaign.
5) Visual Merchandising: It is often seen that the people come to the store to browse rather than buy.
6) Schemes: In store Promotions:The people visiting the store should be encouraged to visit the store again and again. So it is necessary to delight the shoppers with the shopping experience. It has been observed in international shopping malls that there are in-store promotions like lucky draws for entrants surprise winners and so on at random.
Conclusion
“Customer Service is a critical factor for keeping your clients coming back and ensuring they’ll refer you to others”.
1: Growing your business will be a difficult task at best if you don’t perform, meet and exceed your client’s expectations, and provide service that creates customers for life.
2: Customer service is all about the customer’s perception. You have to do more than just get the job done. You must deliver on all the things (big and small) that affect the relationship with your client. Consider opportunities for improvement in the following areas.
3: Setting/Reviewing Expectations: Do you work with your client to set clear, appropriate, realistic expectations that you can always meet or exceed? Are you clear about the responsibilities (both yours’ and the client’s), timelines, and expectations of results? Are you then willing to go back and review these expectations with the client at key points along the way?
4: Communication: Do you have mechanisms in place to ensure you’re communicating with clients at every stage of the engagement, from the sales process through to completion of the project? Being clear about where you’re at, what’s been completed, what’s coming up next, who’s responsible, what results you can expect, etc.? Has the client ever had to ask you for these things?
5: Organization: Are you organized? Punctual? Reliable? When you show up to work with your clients, have you done the work and are you prepared to make them feel comfortable and taken care of? Even though you’ve done it hundreds, maybe thousands of times before, do you take the time to organize and prepare to make it the best client experience possible?
6: Committing to the Little Things: Don’t ever dismiss the power of all the little things. Together they can make all the difference and really separate you from the competition. Returning calls and emails in a timely manner. Providing useful information to folks on a regular basis. Showing appreciation for your clients through things like thank you notes, exclusive client-only briefings, and open house, etc.
Clearly these are not the only relevant areas for creating great customer service, I assure you. But these were some of the Factors which might provide a boost to the sales figures, though I am sure the organization would have already implemented most of these measures already.
Conclusion
“Customer Service is a critical factor for keeping your clients coming back and ensuring they’ll refer you to others”.
1: Growing your business will be a difficult task at best if you don’t perform, meet and exceed your client’s expectations, and provide service that creates customers for life.
2: Customer service is all about the customer’s perception. You have to do more than just get the job done. You must deliver on all the things (big and small) that affect the relationship with your client. Consider opportunities for improvement in the following areas.
3: Setting/Reviewing Expectations: Do you work with your client to set clear, appropriate, realistic expectations that you can always meet or exceed? Are you clear about the responsibilities (both yours’ and the client’s), timelines, and expectations of results? Are you then willing to go back and review these expectations with the client at key points along the way?
4: Communication: Do you have mechanisms in place to ensure you’re communicating with clients at every stage of the engagement, from the sales process through to completion of the project? Being clear about where you’re at, what’s been completed, what’s coming up next, who’s responsible, what results you can expect, etc.? Has the client ever had to ask you for these things?
5: Organization: Are you organized? Punctual? Reliable? When you show up to work with your clients, have you done the work and are you prepared to make them feel comfortable and taken care of? Even though you’ve done it hundreds, maybe thousands of times before, do you take the time to organize and prepare to make it the best client experience possible?
6: Committing to the Little Things: Don’t ever dismiss the power of all the little things. Together they can make all the difference and really separate you from the competition. Returning calls and emails in a timely manner. Providing useful information to folks on a regular basis. Showing appreciation for your clients through things like thank you notes, exclusive client-only briefings, and open house, etc.
Clearly these are not the only relevant areas for creating great customer service, I assure you. But these were some of the Factors which might provide a boost to the sales figures, though I am sure the organization would have already implemented most of these measures already.
No comments:
Post a Comment